Discussion posted by: itzfitzhere
Canopy is the latest in a string of cannabis companies to retrench by cutting staff and taking major writedowns related to their operations, as the cannabis industry’s growth sputters to a halt due to a combination of investor over-exuberance, weak product quality, high prices and stringent government regulation. Last month, Tilray Inc. and Aurora Cannabis Inc. each laid off 10 per cent of their respective workforces. Aurora, too, temporarily shut down a flagship greenhouse in Medicine Hat and sold off another massive facility in Exeter, Ont. at a loss late last year.